CAPE TOWN, South Africa, July 21, 2026/APO Group/ —
Independent E&P company Meren Energy will participate at African Energy Week (AEW) 2026 – taking place in Cape Town from October 12–16 – as a Silver Partner, showcasing its evolution into a major independent upstream producer with a balance portfolio spanning high-margin production in Nigeria and world-class exploration opportunities across the Orange Basin. The company arrives at the event following a transformational year marketed by a corporate rebrand, a major portfolio consolidation and a sharpened focus on delivering long-term production growth.
Formerly Africa Oil Corp., Meren Energy completed its corporate rebrand in May 2025, reflecting its transition from an exploration-led company into a full-cycle upstream producer. The transformation accelerated with the completion of its Prime Oil & Gas consolidation in July 2025, which doubled the company’s working interest production and reserves while strengthening its cash flow through expanded interests in Nigeria’s prolific deepwater assets.
Today, Nigeria represents the cornerstone of Meren’s business. Through interests in Prime, the company holds stakes in some of the country’s largest offshore producing fields, including Akpo, Egina and Agbami. These assets underpin virtually all of the company’s current cash flow, benefitting from premium Brent-linked pricing, low lifting costs and long-life production.
The strategy has translated into a strong financial position. During the first quarter of 2026, Meren reported entitlement production of approximately 31,000 barrels of oil equivalent per day (bpd) while maintaining guidance for an average of roughly 30,000 bpd for the year. The company also strengthened its balance sheet by refinancing its reserve-based lending facility, increasing commitments to $600 million with maturity extended to 2032, while continuing to return capital to shareholders through quarterly dividends.
Alongside its producing portfolio, Meren is positioning itself for the next phase of growth through one of the world’s most closely watched emerging petroleum provinces: the Orange Basin.
In Namibia, the company retains an effective interest in the giant Venus discovery through its investment in Impact Oil & Gas. Following a corporate restructuring announced in May 2026, Impact has become a streamlined Namibia-focused company dedicated to advancing the Venus development toward final investment decision. The project, led by TotalEnergies, ranks among Africa’s largest recent offshore discoveries and is expected to become one of the continent’s most significant new sources of oil production later this decade.
While Impact concentrates exclusively on Namibia, Meren continues to directly hold an 18% interest in South Africa’s Block 3B/4B in the Orange Basin, where high-impact exploration drilling is anticipated. The company also maintains operated exploration acreage in Equatorial Guinea, providing additional long-term exploration upside alongside its producing assets.
“Meren Energy represents the evolution of Africa’s independent upstream sector. By combining strong producing assets with strategic investments in frontier basins like the Orange Basin, the company is demonstrating how African-focused independents can deliver both shareholder value and long-term energy development,” says NJ Ayuk, Executive Chairman, African Energy Chamber.
At AEW 2026, Meren Energy is expected to engage investors, operators and government stakeholders on opportunities across its diversified portfolio, with particular emphasis on the Venus development, exploration potential in South Africa’s Orange Basin and continued investment in Nigeria’s offshore sector. As a Silver Partner, the company reinforces its commitment to advancing Africa’s next generation of upstream projects while supporting the continent’s growing role in global energy supply.
